Globally Acclaimed Organizations Are Hiring Chief Digital Officers – Why?
In the digital marketing arena, new job opportunities come up every year. If we look back at 2013, many companies hired a CMT, i.e. a Chief Marketing Technologist. A CMT is that professional who understands technology and marketing equally well. As per the findings of Gartner in 2013, at least 70 percent of the companies have appointed a CMT.
From CMT to CDO
There is no denying the fact that your company needs a CMT. He is that person who is not only knowledgeable about marketing but also knows how to make use of technology to make the correct moves in online marketing. As far as CMTs are concerned, they know how things work on the internet and what marketing possibilities exist from a technological perspective.
A Chief Marketing Technologist may know the way the internet works, but does he know how to build up interactive branding and messaging? This is where the importance of a chief digital officer (CDO) comes into play. He is that professional who has the knowledge of building interactive branding, managing channel conflicts, bridging the gap between divisions and implementing digital marketing strategies that are effective across the entire organization.
To be precise, a CDO’s responsibility is to lead your company via a digital transformation. It is the dynamic evolution adding a digital dimension to the involvements of all the employees in your organization. Your business vision must take into account the implications of marketing and technology for all the aspects of doing business. A CDO helps your business with this brand new perception rather than what already exists in most of the enterprises.
This implies that businesses cannot manage without the services of a chief digital officer. Companies thinking of making it big in the digital domain should consider hiring CDOs seriously.
According to a recent study by Gartner, it has been predicted that by the year 2015, 25 percent of companies will appoint a CDO. If you look at PepsiCo, the company has already increased its budget on digital marketing from last year. So, it’s no wonder why companies are gearing up towards increasing their budget on digital marketing. So, the position of a CDO seems really strong and promising.
What about Globally Acclaimed Companies?
Global companies as dissimilar and renowned as McDonald’s, Starbucks, BBC Worldwide and Harvard University have already hired the services of a CDO.
Why CDO Role is on the Rise?
If we consider Gartner’s data, here are the key findings as to the increasing importance of a CDO:
ü Public sector units and other companies that have already appointed chief digital officers are more motivated about growth than those without a CDO.
ü Studies show that that just under 40% of CDOs are strategic consultants to the CEO and the board on digital marketing strategy. Again, over 40% are digital marketing officers and the remaining having other related roles.
ü Companies that have already hired CDOs are expected to perform 3 times more insourcing in 2015.
Then, What a Chief Digital Officer Actually Do?
Well, to be honest, he is not that person to make decisions concerning technology or responsible about the company infrastructure. Instead, a CDO plays a transformative role and responsible for breaking up the isolated functions within companies. They are more about evaluating data or information and how it is pertinent to a particular business and consumer experience.
How Can a CDO Succeed?
As per Apigee's research, 83% of top performing digital marketing companies have a digital leader formerly appointed and the 6 keys to their success are:
- Developing a robust and effective digital strategy mission statement.
- Getting all employees on the same page as far as digital vision is concerned.
- Understanding the relation between customer and data and open to data oriented experimentation.
- Developing strong networking with digital and technology innovators.
- Working towards the achievement of tangible goals.
- Proficiency in speaking several languages of business and technology.
So, the job needs to be done by building apt levels of brand integration, digital technology synergy, skill development, investment coordination, innovation, and vendor management in the long term. A successful chief digital marketing officer is one who can strategize and implement long-term policies that drive consumer awareness, experience, engagement and monetization.
What digital policies have your business embraced? Do you have a skilled and experienced CDO? Please share your thoughts with us.